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The major difference (IMO) between the two is the max RAM frequency.

2700K = 1333 MHz

3770k = 1600 MHz

Will this make noticeable difference and if yes in what type of applications will I get advantage of this?

Since both CPUs have the same price, is there a reason not to select the 3770k?

Detailed comparison here.

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There are quite a few more differences than the maximum access speed for the memory.

The 3770 is one generation newer than the 2700. If you run both CPU's at the same speed (both CPU speed and memory access) then the 3770 will be faster and it will use less power. If you allow the 3770 the advantage of faster memory then this difference gets even bigger.

There is no reason the select the old 2700 unless it is cheaper (which you write it is not), or if you have a motherboard which does not support the newer model.

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